Why Social Enterprises Need More Support
At this month’s Stronger Together session, we had an open conversation about the challenges social enterprises face in securing funding, growing their businesses, and navigating the wider business support ecosystem. With insights from Heather Waters and Simon from The Growth Company, we explored practical steps social enterprises can take to access finance, build connections, and scale sustainably.
Heather highlighted the core issue:
“Many businesses have the ambition to grow but struggle with the ‘how’—whether it’s funding, resources, or strategic guidance.”
The session wasn’t just about funding; it was about making sure businesses know what’s available to them and how they can tap into the right resources.
The Challenge of Funding Social Enterprises
Funding is one of the biggest barriers for social enterprises. Many rely on grants, but as Heather pointed out:
“Grants are great, but relying solely on them is risky. A sustainable revenue model is key to long-term success.”
While grants are important, businesses need to think long-term and diversify their income streams.
The Power of Networking and Business Support
Many social enterprises operate in isolation, unaware of the support systems available to them. Simon described it as:
“The biggest missed opportunity for businesses is not tapping into existing networks that could open doors to funding, customers, and growth opportunities.”
One of the biggest takeaways from the session was the importance of connecting with the right people. Heather shared:
“The right connection at the right time can change everything. A single conversation can lead to a new customer, a key investor, or a strategic partner.”
The Growth Company runs networking events, mentorship programs, and workshops to help social enterprises meet others who are on a similar journey.
From Ideas to Action: Real Business Success Stories
Heather shared an inspiring story about a female founder who went from having no pitch deck to securing investment:
“She had no financials, no formal pitch—just a great business idea. With the right guidance, she refined her approach, secured funding, and scaled her company.”
Through the Growth Company’s network, she got the right advice, financial planning, and access to a startup loan to keep her business moving.
Simon also highlighted the impact of early-stage support:
“We’ve seen individuals go from a rough idea to a thriving business simply by having the right people around them to offer strategic direction and accountability.”
How to Access Business Support
If you run a social enterprise and are looking for funding or business support, there are multiple avenues to explore:
1. Growth Company’s Business Support
- Workshops and mentoring for social enterprises and startups
- Funding advice for grants, loans, and investment
- Networking events to connect with like-minded business owners
Simon shared:
“All our networking events and business resources are available at businessgrowthhub.com. Follow our advisors on LinkedIn for the latest updates.”
2. Trade Missions & Growth Beyond Manchester
If you’re looking to expand internationally, Heather pointed out:
“Businesses in Greater Manchester have more global opportunities than ever before. From trade missions to international partnerships, the support is there.”
Some upcoming trade missions include:
- Dallas, USA
- Netherlands
3. Alternative Funding Sources
While grants are not always the best long-term solution, businesses should consider:
- Bootstrapping – reinvesting revenue to grow organically
- Debt finance – understanding what kind of loans work for different businesses
- Investment – knowing when and how to position yourself for funding rounds
Heather summed it up well:
“Whether it’s investment, debt, or bootstrapping, understanding how to position yourself financially can make or break your growth journey.”
Final Thoughts
The Stronger Together session was a reminder that social enterprises don’t have to go it alone. The right support, funding, and network connections can make all the difference.
Heather closed with an important message:
“If you don’t know where to start, reach out. There are people who’ve been through this before and can help guide you in the right direction.”
The help exists—it’s just about making that first step to find it.
If you’re looking for funding or support for your social enterprise, check out Business Growth Hub or reach out to one of the advisors at the Growth Company.
Stay connected, stay growing, and see you at the next Stronger Together session!
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